Exact Sciences (NASDAQ:EXAS) Given New $86.00 Price Target at TD Cowen

Exact Sciences (NASDAQ:EXAS) had its target price lifted by TD Cowen from $82.00 to $86.00 in a report released on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the medical research company’s stock.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group dropped their price target on Exact Sciences from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Piper Sandler lowered their price objective on Exact Sciences from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Benchmark lowered their price objective on Exact Sciences from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Craig Hallum lowered their price objective on Exact Sciences from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group lowered their price objective on Exact Sciences from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Exact Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $75.29.

Exact Sciences Price Performance

Shares of EXAS stock opened at $61.69 on Tuesday. The firm has a market cap of $11.42 billion, a P/E ratio of -52.73 and a beta of 1.27. Exact Sciences has a fifty-two week low of $40.62 and a fifty-two week high of $79.62. The business’s 50 day moving average price is $64.20 and its 200-day moving average price is $55.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.93 and a current ratio of 2.12.

Exact Sciences (NASDAQ:EXAS) last released its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Exact Sciences had a negative net margin of 7.95% and a negative return on equity of 6.17%. The firm had revenue of $708.66 million for the quarter, compared to the consensus estimate of $716.80 million. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Exact Sciences will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Exact Sciences

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $70.00, for a total value of $65,030.00. Following the transaction, the executive vice president now owns 12,758 shares of the company’s stock, valued at approximately $893,060. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin T. Conroy bought 19,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the acquisition, the chief executive officer now owns 1,074,191 shares of the company’s stock, valued at $55,159,707.85. This trade represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of Exact Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank increased its position in Exact Sciences by 838.1% in the third quarter. Huntington National Bank now owns 394 shares of the medical research company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Exact Sciences during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Exact Sciences during the third quarter worth about $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Exact Sciences during the third quarter worth about $35,000. Finally, Vestor Capital LLC purchased a new stake in shares of Exact Sciences during the third quarter worth about $46,000. Hedge funds and other institutional investors own 88.82% of the company’s stock.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.